Who we are

A history of successful forecasting

Since 1989 Lombard Street Research has provided global investors with independent, provocative economic analysis and investment advice that challenges the consensus.

LSR was founded by Tim Congdon CBE, one of the UK’s leading economists since the mid-1970s. He was soon joined by Brian Reading, an influential contributor to the international economic debate since the 1950s.

A unique approach

Clients value the fully integrated, global nature of our research, which is essential to understanding today’s interlocking markets. Our approach to macroeconomic analysis is pragmatic, borne of years of lateral thinking.

The analysis of sector financial balances and the flow of funds is widely neglected. Not at Lombard Street Research. We study them because they help us understand how monetary trends affect the real economy, significantly improving our forecasts.

Those who paid attention to them, as we did, were among the few who saw the global financial crisis coming.

'A Friend in Lombard Street'

The character featured in our logo is based on an original engraving of a certain Mr. Richardson, the first billbroker and the original "Friend in Lombard Street" as featured in Walter Bagehot's 1873 classic on monetary economics "Lombard Street".

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COOKIES POLICY

ABOUT COOKIES

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NOTIFICATION OF CHANGES

If we decide to change our privacy policy, we will post those changes on this page so our users are always aware of what information we collect and how we use it.

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JURISIDICTION:

These terms and conditions will be governed by the laws of England and Wales and the parties agree to submit to the exclusive jurisdiction of the English Courts.

STANDARD SUBSCRIPTION TERMS & CONDITIONS

LICENCE DEFINITIONSA Limited User License permits access by up to the number of stated, named users at a single site.COPYRIGHT, LICENCING & DISTRIBUTION

Information provided is subject to Lombard Street Research’s (LSR's) copyright and distribution terms. Information may not be reproduced, abstracted, sorted or transmitted in any way other than under the terms set out in this contract. If information is incorporated in commercially published reports, services or publications, in whatever format, then the client will seek permission before using the information. In the event that the amount of data in such commercially produced articles is significant then LSR reserves the right to charge a fee or royalty, which reflects the amount of information used.

The Subscriber has purchased a non-transferable, non-exclusive, license to access specific Lombard Street Research services (as set out in the Subscription Services section within this agreement), which will be subject to the following terms and conditions. The "content" within the site is also referred to in this agreement as "material", "intellectual property" "report" and "data". Once your organisation, or a person within it, has had access to any Content subject to these conditions, you are agreeing that your organisation is deemed to be aware of, and consents to, this Agreement. If meetings are included as part of Subscriber’s services as detailed in the Subscription Services section it is agreed that any meetings not used during the current term do not roll into any subsequent term thereafter.

1. AVAILABILITY OF SERVICES: LSR will use reasonable endeavours to ensure that the Services will be made available to the Subscriber 24 hours per day throughout the Subscription Period ("Normal Service Availability"). However LSR reserves the right to, a) vary the Normal Service Availability in any way provided it gives the Subscriber 48 hours notice of its intention to do so. b) suspend the Services temporarily in the event of technical difficulties or other circumstances beyond the reasonable control of LSR. In the event of any such variation or suspension of Services LSR will use all reasonable endeavours to resume Normal Service Availability as soon as practicable but shall not be liable for any loss, damage or claim caused by such variation or suspension.

2. AUTHORISED USE OF SERVICES: i) Access to the Services is restricted to the number/location of users as defined in the Subscription Services section. The subscriber will notify LSR as soon as a user has left the company, or no longer requires access, so that a replacement user can be assigned access during the term of the agreement; ii) Where specific IP addresses are authorised to have access, these should be notified. iii) The Subscriber also warrants that: (a) it shall ensure that any user name, Password or other identification measure employed to access the Services is not disclosed to any person other than the persons authorized to access the same; and (b) all authorized persons will use the Services only in accordance with this Agreement; and (c) its information technology systems and paper record systems are secure and not capable of penetration (including by 'hacking' or physically) by unauthorized persons and that all data derived from the Services shall be kept secure; and (d) it shall comply with all applicable laws and regulations relating to the activities contemplated under this Agreement, in particular the Data Protection Act 1998.

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The above obligations of confidentiality and non-use shall not apply to information or material: (i) which is named by the Subscriber prior to receipt from LSR as evidence by documents in the possession of the Subscriber at the time of disclosure; (ii) which, after receipt from LSR, is disclosed to the Subscriber by a third party having the legal right to do so; (iii) which is available to the public at the time of receipt of LSR; or (d) which becomes available to the public after receipt from LSR through no fault of the Subscriber.

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11. INVALIDITY: If any party of this Agreement shall be held unenforceable the rest of the Agreement shall nevertheless remain in full force and effect.

12. JURISDICTION: These terms and conditions will be governed by the laws of England and Wales and the parties agree to submit to the exclusive jurisdiction of the English Courts.